Louisiana State Employees Retirement System Takes Position in Boyd Gaming Corporation $BYD

Louisiana State Employees Retirement System purchased a new position in Boyd Gaming Corporation (NYSE:BYD) during the first quarter, HoldingsChannel reports. The firm purchased 16,800 shares of the company’s stock, valued at approximately $1,381,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in Boyd Gaming during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC bought a new position in Boyd Gaming in the 4th quarter worth about $25,000. Advisors Asset Management Inc. increased its position in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after acquiring an additional 196 shares during the period. First Horizon Corp purchased a new position in shares of Boyd Gaming during the fourth quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Boyd Gaming by 139.9% during the second quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after acquiring an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Insider Transactions at Boyd Gaming

In other news, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the transaction, the chief executive officer owned 996,981 shares of the company’s stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the transaction, the chairman owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. This trade represents a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 200,000 shares of company stock worth $17,038,987 over the last 90 days. Company insiders own 22.82% of the company’s stock.

Boyd Gaming Trading Down 0.2%

Shares of NYSE:BYD opened at $87.77 on Friday. Boyd Gaming Corporation has a 12-month low of $76.33 and a 12-month high of $91.00. The business’s fifty day simple moving average is $84.87 and its 200-day simple moving average is $84.66. The company has a market capitalization of $6.52 billion, a PE ratio of 3.85, a P/E/G ratio of 2.05 and a beta of 1.07. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.16). The company had revenue of $997.36 million for the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. As a group, equities research analysts predict that Boyd Gaming Corporation will post 7.32 earnings per share for the current fiscal year.

Boyd Gaming announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 15th. Boyd Gaming’s dividend payout ratio (DPR) is currently 3.51%.

Analyst Ratings Changes

A number of analysts recently issued reports on BYD shares. Citigroup boosted their price target on Boyd Gaming from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. The Goldman Sachs Group assumed coverage on Boyd Gaming in a report on Friday, June 26th. They set a “neutral” rating and a $91.00 price objective on the stock. Susquehanna decreased their target price on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a report on Wednesday, June 3rd. Finally, Stifel Nicolaus dropped their price target on Boyd Gaming from $95.00 to $91.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $93.15.

Boyd Gaming Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.